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PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 2§ 
duction fo this colloquy and I feel great sympathy with what he 
says. To quote him: « The application of economic analysis and 
recent experiences of various economic systems have by now given 
sufficient proof that modern or underdeveloped agricultures cannot 
be subjected to agricultural development plans that impede neces- 
sary adjustments, result in exploitation of the farm population, fail 
to recognize the potential high returns to certain investments in agri- 
culture, or restrict the potential gains from international speciali- 
zation in production, but development plans must be consistent 
and efficient in the use of scarce resources and not result in un- 
desirable economic situations. » I would say this judgment is valid 
not only for agriculture but also for industry and for the whole 
economy, and I hope that we could stress this in our final statement. 
HAAVELMO 
I would like to ask Prof. Jomnson if the need for the kind of 
research that he has suggested, might not be somewhat different in 
areas with a low density of population and in areas with a high 
density of population? It seems to me that the kind of production 
policy needed may be different in the two cases. 
WOLD 
What I want to say has partly been said by Prof. Arras. First 
of all I wish to compliment Prof. JounsoN for his superb paper, 
and to emphasize that his general conclusions make important ma- 
“erial for our final statement. 
The eminent qualities of Prof. JoxNsoNn’s paper invite to general 
comments on the position of present day econometrics.  Econome- 
rics is still a young science. Speaking broadly, there has been a 
gradual evolution and expansion from micro to macro approaches. 
Demand analysis and the ‘assessment of cost functions and pro- 
"16] Johnson - pag. 52